Solana (SOL) Price: Foundation Says SOL Is Becoming the ‘On-Chain Nasdaq’ as Bulls Eye Breakout

TLDR

• SOL is trading at $86.46, up 1.80% in 24 hours, consolidating near the $84–$86 support zone
• RSI sits at 35.41 and MACD is below zero, pointing to weak buying pressure
• A breakout above $90 resistance is possible if support holds; a breakdown risks a deeper pullback
• Solana processed 25.3 billion transactions in Q1 2026, over 125× more than Ethereum’s 200 million
• Solana Foundation’s Nick Ducoff says Solana supports all four models of tokenized stock trading

Solana is currently trading at $86.46, with a 24-hour volume of $4.80 billion and a market cap of $49.52 billion. The price has gained 1.80% in the past 24 hours but remains under pressure from above.

Crypto analyst BitGuru posted on X that Solana appears to be building a base between $84 and $86. BitGuru pointed out that the $90 level has acted as resistance, and the current range could act as a launching pad if support holds. The analyst cautioned that the setup remains technically fragile.

The RSI stands at 35.41, which is below the neutral 50 level. This signals limited buying interest from the market.

The MACD is sitting below zero at -19.94. The signal line is at -21.06, and a potential crossover is forming, though no confirmed reversal has taken place yet.

Solana’s 20-day SMA is at $101.26 and the 50-day SMA is at $105.03. Both are well above the current price, which reinforces the short-term bearish trend.

On-Chain Activity Tells a Different Story

Despite the price weakness, Solana’s network activity continued to grow in Q1 2026. Solana recorded 25.3 billion transactions in the quarter, compared to Ethereum’s 200 million — its strongest quarter on record.

Solana also attracted 4,100 new developers in the period, expanding its developer share to 23%. Ethereum’s developer share declined over the same timeframe.

Solana co-founder Raj Gokal said stablecoin volume on Solana reached $1 trillion last year. He added that last month alone came close to matching that full-year figure, pointing to roughly 12× year-on-year growth in stablecoin activity.

Despite these on-chain numbers, the SOL/ETH ratio ended Q1 down 5.84%, showing the price has not yet reflected the network’s fundamentals.

Solana Positions for Tokenized Stock Market

In a recent interview with TheStreet Roundtable, Solana Foundation’s head of institutional growth Nick Ducoff said Solana is positioned to support all four models of tokenized equity trading — the digital twin model, the 24/7 AMM model, the direct transfer agent model, and the DTCC entitlement model.

He did not predict which model would win out but confirmed Solana’s infrastructure currently supports all of them.

SOL’s next key level to watch is $90 on the upside. A failure to hold $84–$86 support could lead to a deeper correction.

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